On Track Innovations Engages MZ Group to Expand Investor Relations and Shareholder Communication Program

Rosh Pinna, Israel – February 14, 2018 – On Track Innovations Ltd. (OTI) (NASDAQ: OTIV), a global provider of near field communication (NFC) and cashless payment solutions, has engaged IR specialists MZ Group (MZ) to manage a comprehensive strategic investor relations and financial communications program across all key markets.

MZ Group will work closely with OTI management to develop and roll out a comprehensive capital markets strategy designed to grow the Company’s visibility in the investment community. This structured campaign will highlight OTI’s recent business successes along with its strong leadership in the cashless payment systems space.

OTI is a pioneer and leading developer of cutting-edge cashless payment solutions including near field communication (NFC) products and solutions. For over two decades, OTI has provided enterprises worldwide with innovative technology and solutions that forge new business models, grow revenues, streamline processes, and create measurable value for end users. OTI’s field-proven suite of cashless payment solutions is based on an extensive IP portfolio, including registered and patent applications throughout the world. Since 1990, OTI has built an international reputation for reliability and innovation – deploying hundreds of solutions for banking, , unattended markets (vending, payment kiosks, electric vehicle chargers), mass transit and petroleum.

MZ has a distinguished reputation as a premier resource for institutional investors, brokers, analysts and private investors. The firm has six offices across North America, a strong presence in Asia and Brazil, and maintains extensive relationships with investors throughout Europe. Additionally, MZ Group was recently ranked the No. 1 consultancy in Latin America and No. 7 in the world in business communication.

Managing Director of MZ North America, Greg Falesnik, will be advising OTI in all facets of corporate and financial communications, including coordinating roadshows in key cities and building brand awareness with the financial media.

“OTI is pleased to partner with MZ Group, the world’s largest independent IR firm. We look forward to working with MZ to expand and strengthen our investor relations program,” said Shlomi Cohen, OTI Chief Executive Officer. “MZ has the established track record and connections to enhance our awareness with the investment community, and we are confident that our partnership with MZ will assist us in increasing shareholder value for our investor base.”

Matt Hayden, Chairman of MZ Group North America, commented, “MZ Group looks forward to partnering with a rapidly growing industry leader like On Track Innovations. We are impressed with OTI’s global reputation and their extensive IP portfolio. We strongly believe OTI’s value proposition will resonate with our investors, and when coupled with the guidance and execution MZ can provide, will ultimately help grow value for the company’s shareholders.”

About MZ Group

MZ, founded in 1999, combines capital markets intelligence, global investor targeting, IR technology, corporate governance, media and corporate communication and IR consulting, providing comprehensive programs that successfully build and manage shareholder value. With a team of highly experienced senior professionals and an integrated service portfolio, MZ ensures that companies are provided with the right tools and strategies to interact effectively with the investment community and the media, successfully conveying the investment message. MZ’s market intelligence, advisory and tactical support activities for investor relations and corporate communications programs are underpinned by a comprehensive IT infrastructure, allowing companies to rapidly achieve global standards of best practices. For more information, please visit www.mzgroup.us.

About On Track Innovations Ltd

On Track Innovations (OTI) is a global leader in the design, manufacture, and sale of secure cashless payment solutions using contactless NFC technology with an extensive patent and IP portfolio. OTI’s field-proven innovations have been deployed around the world to address cashless payment, automated retail, and petroleum markets. OTI distributes and supports its solutions through a global network of regional offices and alliances. OTI is the proud recipient of the 2017 AI Award for Best Cashless Payment Solutions Provider – Israel. For more information, visit www.otiglobal.com.

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Whenever we use words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “will,” “may,” “prospect,” “future” or similar expressions, we are making forward-looking statements. For example, we are using forward-looking statements when we discuss our expectations regarding our growth or profitability, reduction of costs and expenses, expected divestitures, plans for our existing and new products and services, penetration of new markets and securing new customers, contributions of our regions to our growth, resolution of our outstanding patent infringement claims, strengthening of our balance sheet and delivery long-term shareholder value. Because such statements deal with future events and are based on OTI’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of OTI could differ materially from those described in or implied by the statements in this press release. Forward-looking statements could be impacted by the effects of the protracted evaluation and validation periods in the U.S. and other markets for contactless payment cards, or new and existing products and our ability to execute production on orders, as well as other risks and uncertainties, including those discussed in the “Risk Factors” section and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2016, and in subsequent filings with the Securities and Exchange Commission. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be achieved. Except as otherwise required by law, OTI disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise. The reader is cautioned not to place undue reliance on forward-looking statements.